The speeches of the US President and the UK Chancellor of the Exchequer

Материал готовится, пожалуйста, возвращайтесь позднее

The extracts from the budget speeches of the US President and the UK Chancellor of the Exchequer

…The country went into this global recession with employment at an all-time high, inflation, public debt and interest rates at low levels. As an open economy, we are affected by the collapse in demand in other countries. The irresponsibility that led to the current crisis includes the failure to rein in spending, as well as reliance on borrowing to fuel our growth. Like any business, we're also looking for ways to get more bang for our buck, by promoting innovation and cutting red tape.

I also want to note even though the Department of Defense is exempt from the budget freeze, it's not exempt from budget common sense. And there are other steps we're taking to rein in deficits such as a fee on big banks to pay back taxpayers for the bailout…

…As we can all testify, this country's economy is strong and getting stronger. Our measures to curb inflation have proved highly successful. The rampant inflation of the previous government is a thing of the past. Inflation currently stands at 2 per cent. The strength of the current economic climate suggests that interests rates are unlikely to be raised again this year. This should help us to build up a culture of investing for long-term. The goverment has steered the economy througth seven years of uninterrupted economic growth; a trend which is set to continue with our major success in stimulating growth. And in the latest quarter, the economy has been growing at an annual rate of 2.5 per cent.

All indiactors show that industry is thriving. But we are particularly proud of the steady growth experienced by small businesses. We have made it our aim to safeguard their interests and the healthy economy we have created has enabled them to increase output. The plummeting profits caused by the previous government's misguided policies are now safely behind them.

Our goal is to establish world-class public services to ensure that taxpayers receive real value for money. Public spendings goes to provide strong and dependable public services.

These are also vital to extend opportunity, tackle social exclusion and improve people's life chances. The taxes that we levy allow us to allocate resources to achieve that goal. And we have met with considerable success. In particular, we must now build on the success of the climate-change levy we introducaed last year.

Another of our goals is to win the battle against the black economy. If left unchecked , the black economy - I think here particulary of the loss to our economy of tax evasion practices- will push up costs and lead to rising unemployment. This government is committed to its eradication…

…Next year, because of the substantial recovery measures put in place inflation is expected to continue coming down sharply, reaching 1 per cent. The housing market is being held back by a lack of mortgage credit. The loss of consumer confidence and credit crunch has led to a sharp fall in demand around the world. In order to help the car industry and retail trade, I can announce that a scrappage scheme will be implemented next month. The financial sector, which provided 27 per cent of corporate tax revenues, was already badly hit…